Fair Value Measurements (Tables)

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Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value Assets and liabilities measured on Recurring basis	Assets and liabilities carried at fair value on a recurring basis at June 30, 2013 and December 31, 2012, including financial instruments which the Corporation accounts for under the fair value option, are summarized in the following tables.   June 30, 2013   Fair Value Measurements         (Dollars in millions) Level 1 (1)   Level 2 (1)   Level 3   Netting Adjustments (2)   Assets/Liabilities at Fair Value Assets                   Federal funds sold and securities borrowed or purchased under agreements to resell $ —   $ 103,272   $ —   $ —   $ 103,272 Trading account assets:                   U.S. government and agency securities 40,251   14,158   —   —   54,409 Corporate securities, trading loans and other 1,333   30,461   2,763   —   34,557 Equity securities 29,451   14,160   464   —   44,075 Non-U.S. sovereign debt 29,970   12,572   401   —   42,943 Mortgage trading loans and ABS —   10,565   4,685   —   15,250 Total trading account assets 101,005   81,916   8,313   —   191,234 Derivative assets (3) 4,783   1,013,187   7,714   (968,912 )   56,772 AFS debt securities:                   U.S. Treasury securities and agency securities 516   2,583   —   —   3,099 Mortgage-backed securities:                   Agency —   169,184   —   —   169,184 Agency-collateralized mortgage obligations —   32,001   —   —   32,001 Non-agency residential —   8,026   —   —   8,026 Commercial —   3,748   —   —   3,748 Non-U.S. securities 2,815   3,607   —   —   6,422 Corporate/Agency bonds —   1,223   8   —   1,231 Other taxable securities 20   7,305   4,157   —   11,482 Tax-exempt securities —   4,084   877   —   4,961 Total AFS debt securities 3,351   231,761   5,042   —   240,154 Other debt securities carried at fair value:                   Mortgage-backed securities:                   Agency —   26,121   —   —   26,121 Agency-collateralized mortgage obligations —   1,006   —   —   1,006 Commercial —   758   —   —   758 Non-U.S. securities 11,525   1,917   —   —   13,442 Total other debt securities carried at fair value 11,525   29,802   —   —   41,327 Loans and leases —   7,560   1,901   —   9,461 Mortgage servicing rights —   —   5,827   —   5,827 Loans held-for-sale —   8,725   2,153   —   10,878 Other assets 15,596   4,450   1,700   —   21,746 Total assets $ 136,260   $ 1,480,673   $ 32,650   $ (968,912 )   $ 680,671 Liabilities                   Interest-bearing deposits in U.S. offices $ —   $ 1,978   $ —   $ —   $ 1,978 Federal funds purchased and securities loaned or sold under agreements to repurchase —   59,926   —   —   59,926 Trading account liabilities:                   U.S. government and agency securities 21,335   533   —   —   21,868 Equity securities 22,752   3,200   —   —   25,952 Non-U.S. sovereign debt 23,376   1,751   —   —   25,127 Corporate securities and other 482   8,897   55   —   9,434 Total trading account liabilities 67,945   14,381   55   —   82,381 Derivative liabilities (3) 4,713   996,919   6,541   (959,641 )   48,532 Short-term borrowings —   2,147   —   —   2,147 Accrued expenses and other liabilities 11,311   1,761   230   —   13,302 Long-term debt —   44,549   1,890   —   46,439 Total liabilities $ 83,969   $ 1,121,661   $ 8,716   $ (959,641 )   $ 254,705 (1)  During the six months ended June 30, 2013, $500 million of other assets were transferred from Level 1 to Level 2 primarily due to a restriction that became effective for a private equity investment. (2)  Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (3)  For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives.   December 31, 2012   Fair Value Measurements         (Dollars in millions) Level 1 (1)   Level 2 (1)   Level 3   Netting Adjustments (2)   Assets/Liabilities at Fair Value Assets                   Federal funds sold and securities borrowed or purchased under agreements to resell $ —   $ 98,670   $ —   $ —   $ 98,670 Trading account assets:                   U.S. government and agency securities 57,655   29,319   —   —   86,974 Corporate securities, trading loans and other 1,292   32,882   3,726   —   37,900 Equity securities 28,144   14,626   545   —   43,315 Non-U.S. sovereign debt 29,254   13,139   353   —   42,746 Mortgage trading loans and ABS —   11,905   4,935   —   16,840 Total trading account assets 116,345   101,871   9,559   —   227,775 Derivative assets (3) 2,997   1,372,398   8,073   (1,329,971 )   53,497 AFS debt securities:                   U.S. Treasury securities and agency securities 21,514   2,958   —   —   24,472 Mortgage-backed securities:                   Agency —   188,149   —   —   188,149 Agency-collateralized mortgage obligations —   37,538   —   —   37,538 Non-agency residential —   9,494   —   —   9,494 Non-agency commercial —   3,914   10   —   3,924 Non-U.S. securities 2,637   2,981   —   —   5,618 Corporate/Agency bonds —   1,358   92   —   1,450 Other taxable securities 20   8,180   3,928   —   12,128 Tax-exempt securities —   3,072   1,061   —   4,133 Total AFS debt securities 24,171   257,644   5,091   —   286,906 Other debt securities carried at fair value:                   U.S. Treasury securities and agency securities 491   —   —   —   491 Mortgage-backed securities:                   Agency —   13,073   —   —   13,073 Agency-collateralized mortgage obligations —   929   —   —   929 Non-U.S. securities 9,151   300   —   —   9,451 Total other debt securities carried at fair value 9,642   14,302   —   —   23,944 Loans and leases —   6,715   2,287   —   9,002 Mortgage servicing rights —   —   5,716   —   5,716 Loans held-for-sale —   8,926   2,733   —   11,659 Other assets 18,535   4,826   3,129   —   26,490 Total assets $ 171,690   $ 1,865,352   $ 36,588   $ (1,329,971 )   $ 743,659 Liabilities                   Interest-bearing deposits in U.S. offices $ —   $ 2,262   $ —   $ —   $ 2,262 Federal funds purchased and securities loaned or sold under agreements to repurchase —   42,639   —   —   42,639 Trading account liabilities:                   U.S. government and agency securities 22,351   1,079   —   —   23,430 Equity securities 19,852   2,640   —   —   22,492 Non-U.S. sovereign debt 18,875   1,369   —   —   20,244 Corporate securities and other 487   6,870   64   —   7,421 Total trading account liabilities 61,565   11,958   64   —   73,587 Derivative liabilities (3) 2,859   1,355,309   6,605   (1,318,757 )   46,016 Short-term borrowings —   4,074   —   —   4,074 Accrued expenses and other liabilities 15,457   1,122   15   —   16,594 Long-term debt —   46,860   2,301   —   49,161 Total liabilities $ 79,881   $ 1,464,224   $ 8,985   $ (1,318,757 )   $ 234,333 (1)  During 2012, $2.0 billion and $350 million of assets and liabilities were transferred from Level 1 to Level 2, and $785 million and $40 million of assets and liabilities were transferred from Level 2 to Level 1. Of the asset transfers from Level 1 to Level 2, $940 million was due to a restriction that became effective for a private equity investment during 2012, while $535 million of the transfers from Level 2 to Level 1 was due to the lapse of this restriction during 2012. The remaining transfers were the result of additional information associated with certain equities, derivative contracts and private equity investments. (2)  Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (3)  For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives.
Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings	Level 3 – Fair Value Measurements (1)   Six Months Ended June 30, 2012         Gross       (Dollars in millions) Balance January 1 2012 Gains (Losses) in Earnings Gains (Losses) in OCI Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance June 30 2012 Trading account assets:                     Corporate securities, trading loans and other (2) $ 6,880 $ 123 $ — $ 1,245 $ (2,650 ) $ — $ (745 ) $ 157 $ (551 ) $ 4,459 Equity securities 544 9 — 124 (147 ) — 36 33 (2 ) 597 Non-U.S. sovereign debt 342 (2 ) — 308 (247 ) — — — (12 ) 389 Mortgage trading loans and ABS (2) 3,689 83 — 1,367 (636 ) — (262 ) 742 (165 ) 4,818 Total trading account assets 11,455 213 — 3,044 (3,680 ) — (971 ) 932 (730 ) 10,263 Net derivative assets (3) 5,866 273 — 713 (622 ) — (1,310 ) 67 (386 ) 4,601 AFS debt securities:                     Mortgage-backed securities:                     Agency 37 — — — — — (4 ) — (33 ) — Non-agency residential 860 (69 ) 19 — (305 ) — (2 ) — (502 ) 1 Non-agency commercial 40 — — — (11 ) — (5 ) — — 24 Corporate/Agency bonds 162 (2 ) — (2 ) — — (38 ) — (27 ) 93 Other taxable securities 4,265 7 23 958 — — (486 ) — (209 ) 4,558 Tax-exempt securities 2,648 54 25 — (69 ) — (1,518 ) — — 1,140 Total AFS debt securities 8,012 (10 ) 67 956 (385 ) — (2,053 ) — (771 ) 5,816 Loans and leases (4, 5) 2,744 215 — — (1,158 ) — (164 ) — (2 ) 1,635 Mortgage servicing rights (5) 7,378 (937 ) — — (98 ) 168 (803 ) — — 5,708 Loans held-for-sale (4) 3,387 179 — 10 (21 ) — (226 ) 44 (632 ) 2,741 Other assets (6) 4,235 (134 ) — 49 (767 ) — (236 ) — (11 ) 3,136 Trading account liabilities – Corporate securities and other (114 ) — — 55 (69 ) — — (65 ) 50 (143 ) Accrued expenses and other liabilities (4) (14 ) 4 — 5 — — — — 3 (2 ) Long-term debt (4) (2,943 ) (148 ) — 118 (33 ) (138 ) 708 (1,038 ) 1,086 (2,388 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  During the six months ended June 30, 2012, approximately $900 million was reclassified from Trading account assets - Corporate securities, trading loans and other to Trading account assets - Mortgage trading loans and ABS. In the table above, this reclassification is presented as a sale of Trading account assets - Corporate securities, trading loans and other and as a purchase of Trading account assets - Mortgage trading loans and ABS. (3)  Net derivatives include derivative assets of $11.4 billion and derivative liabilities of $6.8 billion. (4)  Amounts represent instruments that are accounted for under the fair value option. (5)  Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. (6)  Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. Level 3 – Fair Value Measurements (1)   Three Months Ended June 30, 2012         Gross       (Dollars in millions) Balance April 1 2012 Gains (Losses) in Earnings Gains (Losses) in OCI Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance June 30 2012 Trading account assets:                     Corporate securities, trading loans and other (2) $ 6,001 $ 30 $ — $ 570 $ (1,585 ) $ — $ (556 ) $ 98 $ (99 ) $ 4,459 Equity securities 525 (6 ) — 45 (38 ) — 46 25 — 597 Non-U.S. sovereign debt 546 (26 ) — 35 (166 ) — — — — 389 Mortgage trading loans and ABS (2) 4,012 (16 ) — 1,183 (181 ) — (173 ) — (7 ) 4,818 Total trading account assets 11,084 (18 ) — 1,833 (1,970 ) — (683 ) 123 (106 ) 10,263 Net derivative assets (3) 4,187 1,110 — 354 (301 ) — (676 ) (39 ) (34 ) 4,601 AFS debt securities:                     Mortgage-backed securities:                     Agency 33 — — — — — — — (33 ) — Non-agency residential 29 — — — (12 ) — (2 ) — (14 ) 1 Non-agency commercial 38 — — — (11 ) — (3 ) — — 24 Corporate/Agency bonds 131 — — — — — (38 ) — — 93 Other taxable securities 4,175 — 6 596 — — (68 ) — (151 ) 4,558 Tax-exempt securities 1,895 28 7 — (34 ) — (756 ) — — 1,140 Total AFS debt securities 6,301 28 13 596 (57 ) — (867 ) — (198 ) 5,816 Loans and leases (4, 5) 2,782 51 — — (1,158 ) — (47 ) — 7 1,635 Mortgage servicing rights (5) 7,589 (1,592 ) — — (98 ) 91 (282 ) — — 5,708 Loans held-for-sale (4) 2,862 10 — 6 (21 ) — (129 ) 13 — 2,741 Other assets (6) 3,487 (102 ) — 6 (186 ) — (69 ) — — 3,136 Trading account liabilities – Corporate securities and other (124 ) — — 7 (42 ) — — — 16 (143 ) Accrued expenses and other liabilities (4) (3 ) 1 — — — — — — — (2 ) Long-term debt (4) (2,500 ) 93 — 42 — (73 ) 275 (506 ) 281 (2,388 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  During the three months ended June 30, 2012, approximately $900 million was reclassified from Trading account assets - Corporate securities, trading loans and other to Trading account assets - Mortgage trading loans and ABS. In the table above, this reclassification is presented as a sale of Trading account assets - Corporate securities, trading loans and other and as a purchase of Trading account assets - Mortgage trading loans and ABS. (3)  Net derivatives include derivative assets of $11.4 billion and derivative liabilities of $6.8 billion. (4)  Amounts represent instruments that are accounted for under the fair value option. (5)  Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. (6)  Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. The following tables present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and six months ended June 30, 2013 and 2012, including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Level 3 – Fair Value Measurements (1)   Three Months Ended June 30, 2013         Gross       (Dollars in millions) Balance April 1 2013 Gains (Losses) in Earnings Gains (Losses) in OCI Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance June 30 2013 Trading account assets:                     Corporate securities, trading loans and other $ 3,607 $ 35 $ — $ 712 $ (959 ) $ — $ (99 ) $ 224 $ (757 ) $ 2,763 Equity securities 497 8 — 28 (35 ) — — 29 (63 ) 464 Non-U.S. sovereign debt 417 (6 ) — 11 — — (22 ) 1 — 401 Mortgage trading loans and ABS 4,480 10 — 978 (691 ) — (70 ) — (22 ) 4,685 Total trading account assets 9,001 47 — 1,729 (1,685 ) — (191 ) 254 (842 ) 8,313 Net derivative assets (2) 1,063 392 — 204 (194 ) — (383 ) (214 ) 305 1,173 AFS debt securities:                     Commercial MBS 10 — — — — — (10 ) — — — Non-U.S. securities 1 — — — (1 ) — — — — — Corporate/Agency bonds 96 — — — — — — — (88 ) 8 Other taxable securities 4,045 3 10 367 — — (263 ) — (5 ) 4,157 Tax-exempt securities 1,041 — 11 — — — (7 ) — (168 ) 877 Total AFS debt securities 5,193 3 21 367 (1 ) — (280 ) — (261 ) 5,042 Loans and leases (3, 4) 2,363 49 — — — — (505 ) — (6 ) 1,901 Mortgage servicing rights (4) 5,776 1,026 — — (862 ) 147 (260 ) — — 5,827 Loans held-for-sale (3) 2,405 19 — 8 (180 ) — (108 ) 12 (3 ) 2,153 Other assets (5) 2,629 121 — 25 (156 ) — (864 ) — (55 ) 1,700 Trading account liabilities – Corporate securities and other (58 ) 6 — 11 (17 ) (5 ) — (1 ) 9 (55 ) Accrued expenses and other liabilities (3) (455 ) (7 ) — — — (165 ) 398 (1 ) — (230 ) Long-term debt (3) (2,355 ) 92 — 170 — (66 ) 66 (151 ) 354 (1,890 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  Net derivatives include derivative assets of $7.7 billion and derivative liabilities of $6.5 billion. (3)  Amounts represent instruments that are accounted for under the fair value option. (4)  Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. (5)  Other assets is primarily comprised of private equity investments. Level 3 – Fair Value Measurements (1)   Six Months Ended June 30, 2013         Gross       (Dollars in millions) Balance January 1 2013 Gains (Losses) in Earnings Gains (Losses) in OCI Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance June 30 2013 Trading account assets:                     Corporate securities, trading loans and other $ 3,726 $ 123 $ — $ 1,517 $ (1,925 ) $ — $ (239 ) $ 442 $ (881 ) $ 2,763 Equity securities 545 50 — 57 (144 ) — — 37 (81 ) 464 Non-U.S. sovereign debt 353 45 — 26 (1 ) — (22 ) 1 (1 ) 401 Mortgage trading loans and ABS 4,935 172 — 1,631 (1,334 ) — (701 ) 5 (23 ) 4,685 Total trading account assets 9,559 390 — 3,231 (3,404 ) — (962 ) 485 (986 ) 8,313 Net derivative assets (2) 1,468 685 — 383 (660 ) — (1,043 ) (162 ) 502 1,173 AFS debt securities:                     Commercial MBS 10 — — — — — (10 ) — — — Non-U.S. securities — — — 1 (1 ) — — — — — Corporate/Agency bonds 92 — 4 — — — — — (88 ) 8 Other taxable securities 3,928 3 12 610 — — (391 ) — (5 ) 4,157 Tax-exempt securities 1,061 1 14 — — — (31 ) — (168 ) 877 Total AFS debt securities 5,091 4 30 611 (1 ) — (432 ) — (261 ) 5,042 Loans and leases (3, 4) 2,287 100 — 71 — 5 (546 ) — (16 ) 1,901 Mortgage servicing rights (4) 5,716 1,460 — — (1,045 ) 270 (574 ) — — 5,827 Loans held-for-sale (3) 2,733 (20 ) — 8 (390 ) — (209 ) 34 (3 ) 2,153 Other assets (5) 3,129 (327 ) — 42 (183 ) — (906 ) — (55 ) 1,700 Trading account liabilities – Corporate securities and other (64 ) 6 — 18 (31 ) (5 ) — (9 ) 30 (55 ) Accrued expenses and other liabilities (3) (15 ) 22 — — — (751 ) 514 (1 ) 1 (230 ) Long-term debt (3) (2,301 ) 103 — 259 (4 ) (102 ) 126 (532 ) 561 (1,890 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  Net derivatives include derivative assets of $7.7 billion and derivative liabilities of $6.5 billion. (3)  Amounts represent instruments that are accounted for under the fair value option. (4)  Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. (5)  Other assets is primarily comprised of private equity investments.
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date	The following tables summarize changes in unrealized gains (losses) recorded in earnings during the three and six months ended June 30, 2013 and 2012 for Level 3 assets and liabilities that were still held at June 30, 2013 and 2012. These amounts include changes in fair value on loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option. Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date   Three Months Ended June 30, 2013 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ 2   $ —   $ —   $ 2 Equity securities —   4   —   —   4 Non-U.S. sovereign debt —   (18 )   —   —   (18 ) Mortgage trading loans and ABS —   (10 )   —   —   (10 ) Total trading account assets —   (22 )   —   —   (22 ) Net derivative assets —   217   (52 )   —   165 Loans and leases (2) —   —   —   58   58 Mortgage servicing rights —   —   954   —   954 Loans held-for-sale (2) —   —   3   14   17 Other assets (18 )   —   127   (40 )   69 Trading account liabilities – Corporate securities and other —   2   —   —   2 Accrued expenses and other liabilities (2) —   —   (16 )   —   (16 ) Long-term debt (2) —   58   —   34   92 Total $ (18 )   $ 255   $ 1,016   $ 66   $ 1,319                       Three Months Ended June 30, 2012 Trading account assets:                   Corporate securities, trading loans and other $ —   $ (30 )   $ —   $ —   $ (30 ) Equity securities —   (6 )   —   —   (6 ) Non-U.S. sovereign debt —   (25 )   —   —   (25 ) Mortgage trading loans and ABS —   (26 )   —   —   (26 ) Total trading account assets —   (87 )   —   —   (87 ) Net derivative assets —   227   481   —   708 Loans and leases (2) —   —   —   45   45 Mortgage servicing rights —   —   (1,722 )   —   (1,722 ) Loans held-for-sale (2) —   —   5   (9 )   (4 ) Other assets (46 )   —   (34 )   (47 )   (127 ) Trading account liabilities – Corporate securities and other —   (2 )   —   —   (2 ) Long-term debt (2) —   82   —   13   95 Total $ (46 )   $ 220   $ (1,270 )   $ 2   $ (1,094 ) (1)  Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option. Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date   Six Months Ended June 30, 2013 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ 53   $ —   $ —   $ 53 Equity securities —   (8 )   —   —   (8 ) Non-U.S. sovereign debt —   63   —   —   63 Mortgage trading loans and ABS —   58   —   —   58 Total trading account assets —   166   —   —   166 Net derivative assets —   13   (11 )   —   2 Loans and leases (2) —   —   —   103   103 Mortgage servicing rights —   —   1,290   —   1,290 Loans held-for-sale (2) —   —   12   (30 )   (18 ) Other assets (18 )   —   139   (37 )   84 Trading account liabilities – Corporate securities and other —   1   —   —   1 Accrued expenses and other liabilities (2) —   —   (15 )   —   (15 ) Long-term debt (2) —   55   —   23   78 Total $ (18 )   $ 235   $ 1,415   $ 59   $ 1,691                       Six Months Ended June 30, 2012 Trading account assets:                   Corporate securities, trading loans and other $ —   $ (7 )   $ —   $ —   $ (7 ) Equity securities —   6   —   —   6 Mortgage trading loans and ABS —   14   —   —   14 Total trading account assets —   13   —   —   13 Net derivative assets —   (1,115 )   516   —   (599 ) Loans and leases (2) —   —   —   141   141 Mortgage servicing rights —   —   (1,252 )   —   (1,252 ) Loans held-for-sale (2) —   —   56   64   120 Other assets (36 )   —   (40 )   (98 )   (174 ) Trading account liabilities – Corporate securities and other —   4   —   —   4 Long-term debt (2) —   (12 )   —   (54 )   (66 ) Total $ (36 )   $ (1,110 )   $ (720 )   $ 53   $ (1,813 ) (1)  Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option.
Fair Value Inputs, Assets and Liabilities, Quantitative Information	The following tables present information about significant unobservable inputs related to the Corporation's material categories of Level 3 financial assets and liabilities at June 30, 2013 and December 31, 2012. Quantitative Information about Level 3 Fair Value Measurements at June 30, 2013   (Dollars in millions)     Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (1)           Instruments backed by residential real estate assets $ 3,271 Discounted cash flow, Market comparables Yield 2% to 25% 6 % Trading account assets – Mortgage trading loans and ABS 434 Prepayment speed 1% to 35% CPR 10 % Loans and leases 858 Default rate 0% to 28% CDR 7 % Loans held-for-sale 1,979 Loss severity 8% to 85% 41 % Commercial loans, debt securities and other $ 11,430 Discounted cash flow, Market comparables Yield 0% to 35% 5 % Trading account assets – Corporate securities, trading loans and other 2,655 Enterprise value/EBITDA multiple 0x to 18x 6 x Trading account assets – Mortgage trading loans and ABS 4,251 Prepayment speed 5% to 40% 20 % AFS debt securities – Other taxable securities 3,307 Default rate 1% to 4% 4 % Loans and leases 1,043 Loss severity 25% to 40% 35 % Loans held-for-sale 174       Auction rate securities $ 1,835 Discounted cash flow, Market comparables Projected tender price/Re-financing level 50% to 100% 95 % Trading account assets – Corporate securities, trading loans and other 108     AFS debt securities – Other taxable securities 850       AFS debt securities – Tax-exempt securities 877       Structured liabilities           Long-term debt $ (1,890 ) Industry standard derivative pricing (2) Equity correlation 30% to 100% 63 %     Long-dated volatilities 4% to 70% 24 %           Net derivatives assets           Credit derivatives $ 1,284 Discounted cash flow, Stochastic recovery correlation model Yield 4% to 25% 16 %     Credit spreads 56 bps to 184 bps 173 bps     Upfront points 0 points to 100 points 58 points     Spread to index -1,746 bps to 1,852 bps 216 bps     Credit correlation 20% to 87% 48 %     Prepayment speed 3% to 40% CPR 12 %     Default rate 1% to 5% CDR 3 %     Loss severity 20% to 42% 35 % Equity derivatives $ (610 ) Industry standard derivative pricing (2) Equity correlation 30% to 100% 63 %     Long-dated volatilities 4% to 70% 24 %           Commodity derivatives $ 5 Discounted cash flow, Industry standard derivative pricing (3) Natural gas forward price $3/MMBtu to $12/MMBtu $7/MMBtu     Correlation 47% to 95% 79 %     Volatilities 9% to 301% 34 % Interest rate derivatives $ 494 Industry standard derivative pricing (3) Correlation (IR/IR) 24% to 99% 64 %     Correlation (FX/IR) -65% to 50% 1 %     Long-dated inflation rates 1% to 3% 2 %     Long-dated inflation volatilities 0% to 2% 1 % Total net derivative assets $ 1,173         (1)  The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 230: Trading account assets – Corporate securities, trading loans and other of $2.8 billion, Trading account assets – Mortgage trading loans and ABS of $4.7 billion, AFS debt securities – Other taxable securities of $4.2 billion, AFS debt securities – Tax-exempt securities of $877 million, Loans and leases of $1.9 billion and LHFS of $2.2 billion. (2)  Includes models such as Monte Carlo simulation and Black-Scholes. (3)  Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. CPR = Constant Prepayment Rate CDR = Constant Default Rate EBITDA = Earnings before interest, taxes, depreciation and amortization MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange Quantitative Information about Level 3 Fair Value Measurements for Loans, Securities and Structured Liabilities at December 31, 2012   (Dollars in millions)     Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (1)           Instruments backed by residential real estate assets $ 4,478 Discounted cash flow, Market comparables Yield 2% to 25% 6 % Trading account assets – Mortgage trading loans and ABS 459 Prepayment speed 1% to 30% CPR 10 % Loans and leases 1,286 Default rate 0% to 44% CDR 6 % Loans held-for-sale 2,733 Loss severity 6% to 85% 43 % Instruments backed by commercial real estate assets $ 1,910 Discounted cash flow Yield 5% n/a Other assets 1,910 Loss severity 51% to 100% 88 % Commercial loans, debt securities and other $ 10,778 Discounted cash flow, Market comparables Yield 0% to 25% 4 % Trading account assets – Corporate securities, trading loans and other 2,289 Enterprise value/EBITDA multiple 2x to 11x 5x Trading account assets – Mortgage trading loans and ABS 4,476 Prepayment speed 5% to 30% 20 % AFS debt securities – Other taxable securities 3,012 Default rate 1% to 5% 4 % Loans and leases 1,001 Loss severity 25% to 40% 35 % Auction rate securities $ 3,414 Discounted cash flow, Market comparables Discount rate 4% to 5% 4 % Trading account assets – Corporate securities, trading loans and other 1,437 Projected tender price/Re-financing level 50% to 100% 92 % AFS debt securities – Other taxable securities 916     AFS debt securities – Tax-exempt securities 1,061       Structured liabilities           Long-term debt (2) $ (2,301 ) Industry standard derivative pricing (3) Equity correlation 30% to 97% n/m     Long-dated volatilities 20% to 70% n/m           Quantitative Information about Level 3 Fair Value Measurements for Net Derivative Assets at December 31, 2012 (Dollars in millions)     Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Net derivatives assets         Credit derivatives $ 2,327 Discounted cash flow, Stochastic recovery correlation model Yield 2% to 25%     Credit spreads 58 bps to 615 bps     Upfront points 25 points to 99 points     Spread to index -2,080 bps to 1,972 bps     Credit correlation 19% to 75%     Prepayment speed 3% to 30% CPR     Default rate 0% to 8% CDR     Loss severity 25% to 42% Equity derivatives $ (1,295 ) Industry standard derivative pricing (3) Equity correlation 30% to 97%     Long-dated volatilities 20% to 70%         Commodity derivatives $ (5 ) Discounted cash flow Natural gas forward price $3/MMBtu to $12/MMBtu Interest rate derivatives $ 441 Industry standard derivative pricing (4) Correlation (IR/IR) 15% to 99%     Correlation (FX/IR) -65% to 50%     Long-dated inflation rates 2% to 3%     Long-dated inflation volatilities 0% to 1%     Long-dated volatilities (FX) 5% to 36%     Long-dated swap rates 8% to 10% Total net derivative assets $ 1,468       (1)  The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 231: Trading account assets – Corporate securities, trading loans and other of $3.7 billion, Trading account assets – Mortgage trading loans and ABS of $4.9 billion, AFS debt securities – Other taxable securities of $3.9 billion, AFS debt securities – Tax-exempt securities of $1.1 billion, Loans and leases of $2.3 billion, LHFS of $2.7 billion and Other assets of $1.9 billion. (2)  For more information on the ranges of inputs for equity correlation and long-dated volatilities, see the qualitative equity derivatives discussion on page 238. (3)  Includes models such as Monte Carlo simulation and Black-Scholes. (4)  Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. n/a = not applicable n/m = not meaningful CPR = Constant Prepayment Rate CDR = Constant Default Rate EBITDA = Earnings before interest, taxes, depreciation and amortization MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis	Assets Measured at Fair Value on a Nonrecurring Basis       June 30, 2013   Three Months Ended June 30, 2013   Six Months Ended June 30, 2013 (Dollars in millions) Level 2   Level 3   Gains (Losses) Assets               Loans held-for-sale $ 2,195   $ 660   $ (61 )   $ (69 ) Loans and leases (1) 14   4,489   (525 )   (1,004 ) Foreclosed properties (2) 12   1,435   8   10 Other assets 99   12   (5 )   (11 )                   June 30, 2012   Three Months Ended June 30, 2012   Six Months Ended June 30, 2012 Assets               Loans held-for-sale $ 683   $ 1,139   $ (69 )   $ (12 ) Loans and leases (1) 27   6,902   (1,213 )   (2,350 ) Foreclosed properties (2) 67   1,305   (46 )   (82 ) Other assets 39   11   (2 )   (2 ) (1)  Losses represent charge-offs on real estate-secured loans. (2)  Amounts are included in other assets on the Consolidated Balance Sheet and represent fair value and related losses on foreclosed properties that were written down subsequent to their initial classification as foreclosed properties.
Fair Value Inputs, Assets, Quantitative Information	The table below presents information about significant unobservable inputs related to the Corporation's nonrecurring Level 3 financial assets and liabilities at June 30, 2013 and December 31, 2012. Quantitative Information about Nonrecurring Level 3 Fair Value Measurements at June 30, 2013   (Dollars in millions)     Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Instruments backed by residential real estate assets $ 5,068 Discounted cash flow, Market comparables Yield 3% to 6% 4 % Loans held-for-sale 579 Prepayment speed 3% to 20% 12 % Loans and leases 4,489 Default rate 0% to 28% 7 %     Loss severity 8% to 61% 43 %     OREO discount 0% to 29% 15 %     Cost to sell 8% n/a Instruments backed by commercial real estate assets $ 81 Discounted cash flow Yield 5% to 9% 9 % Loans held-for-sale 81 Loss severity 82% to 86% 83 % Quantitative Information about Nonrecurring Level 3 Fair Value Measurements at December 31, 2012   Instruments backed by residential real estate assets $ 9,932 Discounted cash flow, Market comparables Yield 3% to 5% 3 % Loans held-for-sale 748 Prepayment speed 3% to 30% 15 % Loans and leases 9,184 Default rate 0% to 55% 7 %     Loss severity 6% to 66% 48 %     OREO discount 0% to 28% 15 %     Cost to sell 8% n/a Instruments backed by commercial real estate assets $ 388 Discounted cash flow Yield 4% to 13% 6 % Loans held-for-sale 388 Loss severity 24% to 88% 53 % n/a = not applicable
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings	Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings   Three Months Ended June 30, 2013 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ 35   $ —   $ —   $ 35 Equity securities —   8   —   —   8 Non-U.S. sovereign debt —   (6 )   —   —   (6 ) Mortgage trading loans and ABS —   10   —   —   10 Total trading account assets —   47   —   —   47 Net derivative assets —   260   132   —   392 AFS debt securities – Other taxable securities —   —   —   3   3 Loans and leases (2) —   —   —   49   49 Mortgage servicing rights —   —   1,026   —   1,026 Loans held-for-sale (2) —   —   (2 )   21   19 Other assets 34   —   127   (40 )   121 Trading account liabilities – Corporate securities and other —   6   —   —   6 Accrued expenses and other liabilities (2) —   —   (7 )   —   (7 ) Long-term debt (2) —   58   —   34   92 Total $ 34   $ 371   $ 1,276   $ 67   $ 1,748                       Three Months Ended June 30, 2012 Trading account assets:                   Corporate securities, trading loans and other $ —   $ 30   $ —   $ —   $ 30 Equity securities —   (6 )   —   —   (6 ) Non-U.S. sovereign debt —   (26 )   —   —   (26 ) Mortgage trading loans and ABS —   (16 )   —   —   (16 ) Total trading account assets —   (18 )   —   —   (18 ) Net derivative assets —   229   881   —   1,110 AFS debt securities – Tax-exempt securities —   —   —   28   28 Loans and leases (2) —   —   —   51   51 Mortgage servicing rights —   —   (1,592 )   —   (1,592 ) Loans held-for-sale (2) —   —   5   5   10 Other assets (21 )   —   (34 )   (47 )   (102 ) Accrued expenses and other liabilities (2) —   —   —   1   1 Long-term debt (2) —   80   —   13   93 Total $ (21 )   $ 291   $ (740 )   $ 51   $ (419 ) (1)  Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option. Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings   Six Months Ended June 30, 2013 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ 123   $ —   $ —   $ 123 Equity securities —   50   —   —   50 Non-U.S. sovereign debt —   45   —   —   45 Mortgage trading loans and ABS —   172   —   —   172 Total trading account assets —   390   —   —   390 Net derivative assets —   146   539   —   685 AFS debt securities:                   Other taxable securities —   —   —   3   3 Tax-exempt securities —   —   —   1   1 Total AFS debt securities —   —   —   4   4 Loans and leases (2) —   —   —   100   100 Mortgage servicing rights —   —   1,460   —   1,460 Loans held-for-sale (2) —   —   2   (22 )   (20 ) Other assets 36   —   124   (487 )   (327 ) Trading account liabilities – Corporate securities and other —   6   —   —   6 Accrued expenses and other liabilities (2) —   —   22   —   22 Long-term debt (2) —   80   —   23   103 Total $ 36   $ 622   $ 2,147   $ (382 )   $ 2,423                       Six Months Ended June 30, 2012 Trading account assets:                   Corporate securities, trading loans and other $ —   $ 123   $ —   $ —   $ 123 Equity securities —   9   —   —   9 Non-U.S. sovereign debt —   (2 )   —   —   (2 ) Mortgage trading loans and ABS —   83   —   —   83 Total trading account assets —   213   —   —   213 Net derivative assets —   (1,144 )   1,417   —   273 AFS debt securities:                   Non-agency residential MBS —   —   —   (69 )   (69 ) Corporate/Agency bonds —   —   —   (2 )   (2 ) Other taxable securities —   —   —   7   7 Tax-exempt securities —   —   —   54   54 Total AFS debt securities —   —   —   (10 )   (10 ) Loans and leases (2) —   —   —   215   215 Mortgage servicing rights —   —   (937 )   —   (937 ) Loans held-for-sale (2) —   —   95   84   179 Other assets (11 )   —   (42 )   (81 )   (134 ) Accrued expenses and other liabilities (2) —   —   —   4   4 Long-term debt (2) —   (59 )   —   (89 )   (148 ) Total $ (11 )   $ (990 )   $ 533   $ 123   $ (345 ) (1)  Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option.